Currently I can't give an answer on consistency as I can't really trade well while working. My main goal these past couple of weeks was to get into the habit of learning to take small losses. I'm not yet at $700 consistency yet. So far I've learn I can make a lot of money when I'm right and limit my losses when I'm wrong. I just need to know when I'm wrong and when I'm right. And that's hard. Also I already answered I started the day with $900 in my account. You don't really need 10,000. If you think about it why would you put yourself in a situation where you are going to be risking $10k to make $700?
YM emini has a lot of leverage unlike the non leveraged ETFs like SPY,QQQ,IWM. Your leveraged so huge so as to make it mathematically impossible to stay in the game very long. Whey you reduce your size and use a good risk management strategy your chances of success improve greatly. Leverage is like cheese in a spring loaded rat trap - it lures in the greedy rats while the older rats wil either not take the bait or are experts that have learned how to take the cheese out, they have an edge they will exploit when the conditions are optimal. Ever wonder why you are given so much leverage? The house throws in lots of cheese to lure in the greedy rats only to take $$ from the greedy rats that only see the cheese - not the trap.
Well to claim your making $700+ on a daily basis you gotta need that amount of capital or leverage. I wasn't referring to your $900 startup but at present btw. Unless, you mean to tell us you can make $700 a day 77% return, everyday, with just $900 in trades? You did mention your making $700 "per day" and not $700 flat correct? That's quite a bold statement when not too long ago you were mentioning how you were losing money. Since your not being very clear about it that leaves many doubts behind.
Actually, containing losses is a lot more important. Profit big wins will take care of itself from what I've seen but if I don't control my losses first it'll do a lot more damage. For example on that $700 profit I had 2 winning and 1 losing. The 2 winner were big. That 1 losing was small but if I hadn't cut it once it went wrong, it would have ended up wiping out my 2 winning trades. Furthermore, once I'm able to consistently contain my losses then it's sizing up time.
Man, if $700 blows your mind. Then I will tell you that in the past I've made $3000 from $3000 in one day before.
Might making consistent profit is very difficult task, if loss ratio lesser than profit ratio it's mean already profitable and still good than loss
Is this real account ?Live is real test , when loss of real money results in different outcomes from demo .